Geochang-gun, Rent Reduction for Small Business Owners... Property Tax Reduction Application Accepted

Property Tax Reduction Application for Building Owners from the 10th to June 18th

Geochang County Office building exterior view

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Geochang-gun, Gyeongnam Province, is accepting applications for property tax reduction from building owners who have lowered rent for small business owners struggling due to the novel coronavirus infection (COVID-19) from the 10th to June 18th.

The reduction targets are building owners listed in the property tax ledger as of the property tax assessment date (June 1). Building owners who have reduced rent by more than 5% for small business owners can have their property tax on the corresponding building (including land) reduced by up to 75% according to the reduction rate.

Applications can be submitted to the county office's finance department or the eup/myeon office with the local tax reduction application form, a copy of the lease contract, and bank transaction statements.

The application form can be downloaded from the Geochang-gun Office website under County News.

If rent is reduced after the regular property tax (July, September) is assessed, the property tax must be paid first, and the reduced tax amount can be refunded through the reduction application.

Gu In-mo, the mayor of Geochang-gun, stated, “We thank the building owners who promote coexistence with small business owners facing economic difficulties due to private gathering restrictions and business hour limitations for COVID-19 prevention, and we are promoting property tax reductions to overcome difficulties together.”

This content was produced with the assistance of AI translation services.